Howard Capital Management LLC reduced its stake in shares of Marathon Petroleum Corporation (NYSE:MPC – Free Report) by 90.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,099 shares of the oil and gas company’s stock after selling 20,419 shares during the quarter. Howard Capital Management LLC’s holdings in Marathon Petroleum were worth $830,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Goelzer Investment Management Inc. increased its position in shares of Marathon Petroleum by 2.3% during the third quarter. Goelzer Investment Management Inc. now owns 9,160 shares of the oil and gas company’s stock worth $3,622,000 after acquiring an additional 208 shares during the period. Vanguard Capital Wealth Advisors raised its stake in shares of Marathon Petroleum by 19.8% during the third quarter. Vanguard Capital Wealth Advisors now owns 1,964 shares of the oil and gas company’s stock valued at $777,000 after acquiring an additional 324 shares in the last quarter. North Capital Inc. purchased a new stake in shares of Marathon Petroleum in the third quarter valued at approximately $289,000. Milestone Asset Management LLC boosted its holdings in shares of Marathon Petroleum by 67.8% in the third quarter. Milestone Asset Management LLC now owns 1,406 shares of the oil and gas company’s stock valued at $556,000 after purchasing an additional 568 shares during the period. Finally, Whitener Capital Management Inc. purchased a new stake in shares of Marathon Petroleum in the third quarter valued at approximately $200,000. 76.77% of the stock is owned by hedge funds and other institutional investors.
Marathon Petroleum News Roundup
Here are the key news stories impacting Marathon Petroleum this week:
- Positive Sentiment: Wells Fargo issued a Buy rating on MPC, adding to the positive analyst sentiment surrounding the refiner. Wells Fargo Issues a Buy Rating on Marathon Petroleum
- Positive Sentiment: Analysts raised their estimated fair value for Marathon Petroleum to approximately $433.44 from $375.50, citing improved refining assumptions and stronger anticipated margins and crack spreads. Marathon Petroleum Stock Gets Fair Value Boost
- Positive Sentiment: Citigroup projected significant potential appreciation for MPC, while a separate report noted the stock reached a new 12-month high following an analyst upgrade. These developments reinforce the bullish view on refining profitability. Citigroup Forecasts Strong Price Appreciation Marathon Petroleum Sets New 12-Month High
- Positive Sentiment: Coverage describes MPC as a potential hedge against diesel-related weakness, with its scale and refining exposure benefiting if industry margins remain firm. Marathon Petroleum: A Solid Hedge Vs. Diesel’s Damage
- Neutral Sentiment: Although MPC and Delek US reported stronger earnings as refining margins improved, analysts favored Delek because of its lower valuation and stronger earnings-estimate revisions. Marathon vs. Delek US
- Negative Sentiment: The stock’s decline while the market advanced highlights near-term relative weakness. Investors may also be questioning whether MPC’s large multiyear gain and current valuation already reflect much of the expected cash-flow and refining-margin improvement. Marathon Petroleum Stock Declines While Market Improves
Marathon Petroleum Stock Up 0.3%
Shares of NYSE MPC opened at $478.38 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.89 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $139.66 billion, a PE ratio of 16.44, a price-to-earnings-growth ratio of 0.14 and a beta of 0.54. The stock’s fifty day simple moving average is $397.65 and its two-hundred day simple moving average is $308.94. Marathon Petroleum Corporation has a 12-month low of $161.93 and a 12-month high of $485.22.
Marathon Petroleum (NYSE:MPC – Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $14.27 by $3.46. The business had revenue of $51.99 billion for the quarter, compared to the consensus estimate of $40.87 billion. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%. The business’s revenue was up 53.5% compared to the same quarter last year. During the same period last year, the business posted $3.96 EPS. As a group, analysts expect that Marathon Petroleum Corporation will post 62.78 EPS for the current fiscal year.
Marathon Petroleum Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Wednesday, August 19th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $4.00 dividend on an annualized basis and a yield of 0.8%. Marathon Petroleum’s dividend payout ratio (DPR) is presently 13.75%.
Insider Activity at Marathon Petroleum
In related news, SVP Shawn Lyon sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $375.75, for a total transaction of $375,750.00. Following the sale, the senior vice president owned 11,194 shares of the company’s stock, valued at $4,206,145.50. This trade represents a 8.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Molly Benson sold 17,196 shares of Marathon Petroleum stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $358.57, for a total value of $6,165,969.72. Following the completion of the transaction, the insider owned 30,334 shares in the company, valued at $10,876,862.38. This trade represents a 36.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 21,691 shares of company stock valued at $7,780,127 over the last quarter. 0.17% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on the company. The Goldman Sachs Group increased their price objective on Marathon Petroleum from $376.00 to $472.00 and gave the stock a “buy” rating in a research note on Monday, September 21st. Wells Fargo & Company lifted their target price on Marathon Petroleum from $400.00 to $560.00 and gave the company an “overweight” rating in a research report on Wednesday. Morgan Stanley lifted their target price on Marathon Petroleum from $265.00 to $453.00 and gave the company an “overweight” rating in a research report on Monday, September 14th. Piper Sandler upped their target price on Marathon Petroleum from $344.00 to $462.00 and gave the stock an “overweight” rating in a report on Thursday, September 3rd. Finally, TD Cowen upped their target price on Marathon Petroleum from $357.00 to $375.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $417.88.
Read Our Latest Research Report on Marathon Petroleum
Marathon Petroleum Profile
Marathon Petroleum Corporation (NYSE:MPC) is an American downstream energy company engaged in refining, marketing, and transporting petroleum products. Its operations include converting crude oil into gasoline, diesel, jet fuel, asphalt, propane, and other refined products used by transportation, industrial, and commercial customers.
The company markets fuel under the Marathon brand and supplies products to independent marketers, commercial businesses, and other wholesale customers. Marathon Petroleum also owns a general-partner interest and significant limited-partner interest in MPLX Inc, a midstream company that operates pipelines, storage facilities, terminals, and gathering and processing assets supporting the movement of crude oil and natural gas liquids.
Marathon Petroleum’s refining and midstream activities are concentrated in the United States, with assets serving regions across the Midwest, Gulf Coast, and West Coast.
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